Office Hours with Vela Wood

Vela Wood
  • 5.0 (21)
  • ENTREPRENEURSHIP

Office Hours is a podcast hosted by two corporate attorneys at Vela Wood covering general issues related to small businesses and startups.

  1. 09/06/2023

    Preparing for Funding Ep7: Seed Round – Recut

    Office Hours is our podcast covering general issues related to small businesses and startups. Preparing For Funding is a series of Office Hours episodes hosted by VW Partners Kevin Vela and Rad Wood about getting your company’s legal house in order before taking on funding. We are recutting this series to reflect updates in law and venture trends in the last 5 years to better help you navigate through preparing for funding. In the final episode of this series, we discuss seed rounds, including the difference between convertible notes, SAFEs, and equity rounds, and how seed rounds have changed over the last 5 years. Time Stamps 1:57 – Concern for Accelerators 3:48 – Seed Rounds in 2018 v 2023 10:24 – Convertible Securities: SAFEs & Convertible Notes 15:03  – Why SAFEs Are Popular 18:58 – Equity Rounds 23:23 – Party Rounds, Lead Investors & Maturity Dates Related Content Vela Wood Venture Deals Report 2022 Comparing Convertible Instruments Dilution Done Well The Mechanics of Converting Convertible Notes Understanding The New Post-Money SAFE VDR Ch. 4, Part 1: Economic Terms of the Term Sheet VDR Ch. 5: Control Terms of the Term Sheet References NVCA Model Legal Documents Series Seed Financing Documents Y-Combinator SAFE Financing Documents

    30 min

  2. 09/06/2023

    Office Hours with Anthony Cimino

    Office Hours is our podcast covering general issues related to small businesses and startups. This episode of Office Hours features Anthony Cimino, Head of Policy & Regulatory Affairs at Carta, an online equity management platform. We discuss the status of several key public policy issues – including the Qualified Small Business Stock (QSBS) tax exclusion, the shifting definition of Accredited Investor, the Corporate Transparency Act, and electronic signatures and filings for 83(b) elections – and how the changes impact investor access, capital formation, and the ability of startups to raise capital. Time Stamps 4:58 – Qualified Small Business Stock (QSBS) 14:00 – Accredited Investor Definition  26:11 – Corporate Transparency Act (CTA) 33:33 – 83(b) Elections Related Content How to Angel Invest: What is an Accredited Investor? How Founder “Vesting” Really Works Preparing for Funding Ep5: Initial Sophisticated Investors – Recut SEC Amends 506(c) Accredited Investor Verification Securities Straight Talk Vol. 2: Out With the Old (Rule 505), In With the New (Rule 504) Selected Offering Exemptions References Beneficial Ownership Information Reporting (FinCEN) Carta Policy Desk Newsletter Fixing 83(b) Elections (Carta) SEC Annual Report Fiscal Year 2022 What is an accredited investor? (Carta)

    40 min

  3. 08/01/2023

    Preparing for Funding Ep6: Accelerators/Incubators – Recut

    Office Hours is our podcast covering general issues related to small businesses and startups. Preparing For Funding is a series of Office Hours episodes hosted by VW Partners Kevin Vela and Rad Wood about getting your company’s legal house in order before taking on funding. We are recutting this series to reflect updates in law and venture trends in the last 5 years to better help you navigate through preparing for funding. In this episode, we break down the differences between accelerators and incubators and discuss how to determine if an accelerator is a good fit for your company. Time Stamps :36 – Accelerators v. Incubators 4:34 – The Best Accelerators  7:35 – Y Combinator Terms 10:37 – How to Make Sure an Accelerator is a Good Fit for Your Company 11:01 – Off-Market Terms 16:18 – Techstars Terms 19:53 – Treating Accelerators as a Venture Fund Related Content The Critical Role that Accelerators Play in Venture Financing The Hidden Cost Of Accelerators Top 37 Accelerators and Incubators in Texas VDR Ch. 4, Part 1: Economic Terms of the Term Sheet References Capital Factory DivInc RevTech Ventures SKU Sputnik  Techstars Y Combinator

    22 min

  4. 06/29/2023

    Preparing for Funding Ep5: Initial Sophisticated Investors – Recut

    Office Hours is our podcast covering general issues related to small businesses and startups. Preparing For Funding is a series of Office Hours episodes hosted by VW Partners Kevin Vela and Rad Wood about getting your company’s legal house in order before taking on funding. We are recutting this series to reflect updates in law and venture trends in the last 5 years to better help you navigate through preparing for funding. In this episode, we discuss the difference between accredited, unaccredited, and sophisticated investors, and where to find them. Time Stamps 2:33 – Importance of Friends and Family Round 5:07 – The Hustle 7:47 – Issuing Securities  8:35 – Accredited Investors 12:29 – Sophisticated Investors 16:00 – Where Do You Find Investors? Related Content Finding Angel Investors In Texas Are You Ready To Talk To Angel Investors? Presenting To Investors: Conciseness = Clarity References Aggie Angel Network AngelList Baylor Angel Network Central Texas Angel Network Cowtown  DivInc (VW Sponsors) Houston Angel Network Keiretsu Forum Lubbock Angel Network  North Texas Angel Network (VW Sponsors)

    22 min

  5. 06/02/2023

    Preparing for Funding Ep4: Pitch Decks – Recut

    Office Hours is our podcast covering general issues related to small businesses and startups. Preparing For Funding is a series of Office Hours episodes hosted by VW Partners Kevin Vela and Rad Wood about getting your company’s legal house in order before taking on funding. We are recutting this series to reflect updates in law and venture trends in the last 5 years to better help you navigate through preparing for funding. In this episode, we discuss pitch decks, including what their purpose is (and isn’t), how to structure an effective deck, and how to get them in front of potential investors. Time Stamps 1:00 – The True Value of Pitch Decks 4:38 – Trends in Pitch Decks  6:18 – Making Your Pitch Deck as Low Friction as Possible 9:27 – How to Approach Investors 11:55 – How to Find Investors  15:02 – Appropriate Structure of Pitch Decks 16:31– Including Capital Raise Details in Decks 18:30 – Multiple Versions of Your Pitch Deck Related Content Pitch Decks Are The New Business Plan Presenting To Investors: Conciseness = Clarity Startup Starter Pack Startup Pitch Tips (Part 1) Getting To “No”  Selected Offering Exemptions References 30 Legendary Startup Pitch Decks and What You Can Learn From Them

    23 min

  6. 05/18/2023

    Preparing for Funding Ep3: Friends and Family Funding – Recut

    Office Hours is our podcast covering general issues related to small businesses and startups. Preparing For Funding is a series of Office Hours episodes hosted by VW Partners Kevin Vela and Rad Wood about getting your company’s legal house in order before taking on funding. We are recutting this series to reflect updates in law and venture trends in the last 5 years to better help you navigate through preparing for funding. In this episode, we discuss how to structure a Friends & Family Round to avoid risks that affect later-stage financing rounds. Time Stamps 1:00 – Why People Invest 3:25 – Risks of Early-Stage Investors 4:50 – Security Considerations in Early-Stage Rounds 7:26 – Lego Brick Theory 8:46 – Early-Stage Round Financing Options  11:13 – Runaway Valuations 16:17 – Keep Your Investors Updated Related Content Let’s All Use Lego® Bricks Keep Your Investors Updated Keep Your Investors Updated (Part II) Selected Offering Exemptions Silicon Valley Review S2, Ep1: Runaway Valuations

    21 min

  7. 05/04/2023

    Preparing for Funding Ep2: Founders’ Agreements – Recut

    Office Hours is our podcast covering general issues related to small businesses and startups. Preparing For Funding is a series of Office Hours episodes hosted by VW Partners Kevin Vela and Rad Wood about getting your company’s legal house in order before taking on funding. We are recutting this series to reflect updates in law and venture trends in the last 5 years to better help you navigate through preparing for funding. In this episode, we discuss founders’ agreements, including Restricted Stock Purchase Agreements (RSPAs), Confidential Information and Inventions Assignment Agreements (CIIAAs), and Non-Compete and Non-Solicitation Agreements. Time Stamps 1:48 – Why It’s Important to Have Founders’ Agreements 4:35 – How Can Someone Walk Away with a Third of the Company? 6:03 – Restricted Stock Purchase Agreement (RSPA) 9:21 – Vesting Schedule 11:37 – Single Trigger v Double Trigger Acceleration  14:55 – 83(b) Election 17:00 – Non-Compete and Non-Solicitation Agreements 18:15 – Confidential Information and Inventions Assignment Agreement (CIIAA) 22:37 – Ideal Number of Founders 26:47 – Founders Stock  Related Content Everyone Should Vest  Equity Incentive Plans for Startups Restricted Equity v. Options & 83(b) Elections How Founder “Vesting” Really Works The Company Agreement Explained: Confidential Information & Non-Competes Silicon Valley Review S5, Ep8: Hockey Stick Growth, Board Control & Fiduciary Growth How Much Equity Should I Grant Advisors?  The 50-50 Equity Split(Up) Pricing Stock Options

    30 min

  8. 04/14/2023

    Preparing for Funding Ep1: Incorporation – Recut

    Office Hours is our podcast covering general issues related to small businesses and startups. Preparing For Funding is a series of Office Hours episodes hosted by VW Partners Kevin Vela and Rad Wood about getting your company’s legal house in order before taking on funding. We are recutting this series to reflect updates in law and venture trends in the last 5 years to better help you navigate through preparing for funding. In this episode, we discuss the basics of incorporation, including the difference between corporations v. LLCs, which state to organize in, and when we recommend online document formation tools. Time Stamps 1:20 – Corporations v. LLCs 3:27 – LLCs and Small Businesses 5:33 – Tax Advantages for LLCs  7:30 – Single v. Double Taxation 9:19 – 1202 QSBS 12:29 – Corporations and Startups 14:31 – Online Formation Documents 21:10 – Where Should You Incorporate/Organize?  24:05 – Standard Delaware Filing Related Content What’s The Difference Between A Small Business And A Startup? Choosing The Right Entity Why Your Startup Should (Likely) Be A C-Corp Do I Really Owe Delaware $75,000??? Explaining Delaware Franchise Tax Calculations Why Your Small Business Should (Likely) Be An LLC References Section 1202 of the IR Code & Tax Breaks for Small Businesses Online Document Formation Tools: AngelList, Clerky, CapBase

    26 min
See All (48)

5
out of 5
21 Ratings

About

Office Hours is a podcast hosted by two corporate attorneys at Vela Wood covering general issues related to small businesses and startups.

Information